InP chipmaker CyOptics receives $10m boost
CyOptics, the US-based optical module maker with an InP fabrication facility in Israel, has raised $10 million in its fourth funding round.
The venture funding provides a further sign of an imminent upturn in the fiber-optic sector, which has taken a battering over the past four years. Bookham Technology and JDS Uniphase recently raised such hopes with reports of swelling order books.
Led by Jerusalem Venture Partners (JVP), both existing partners and one new investor took part in the latest round, the proceeds from which will be used for product development and for sales and marketing activity.
"CyOptics has weathered the downturn and emerged a stronger, more focused and innovative company," said Glen Schwaber of JVP, who is also on the CyOptics board.
Initially set up to focus on the development of 10 and 40 Gb/s optical components, CyOptics completed its 7000 ft2 InP wafer fabrication facility in Yokneam Illit, Israel, back in early 2002 following investment of over $10 million. The fab features two MOCVD reactors.
The company also boasts a 30,000 ft2 component packaging and test facility located in Allentown, PA.
Rather than concentrating solely on speed, CyOptics now says that its primary focus will be to shrink modules to five times smaller than the current industry standard, while also reducing their power consumption.
